‘We’ve got a mortgage, it’s small, but we don’t know how to pay it out.’ That’s what a recently-retired client couple told me, and asked, ‘What can we do?’
Jill Weeks, the co-author of Retire Bizzi shares the stories of people she’s met and what they’re doing in retirement. Long involved in the retirement industry, she’s researched and understands what’s involved in this decision. She has also written 21 Ways to Retire and co-authored Where to Retire in Australia and is a regular contributor to ABC radio.
Planning for a successful retirement not only includes planning your finances but also planning your time—and having the right mindset.
The bucket list concept—things you want to do before you kick the bucket— is well known. Your reverse bucket list comes from what you’ve already done.
‘Without leaps of imagination or dreaming, we lose the excitement of possibilities,’ says Gloria Steinem. ‘Dreaming, after all is a form of planning.’ What’s your dream for your retirement. How will you make that dream a reality? What’s your plan?
What are you passionate about? Retirement is when you actually have the time to focus on your passion without work getting in the way. For Beryl Matthews, retirement meant she could follow her passion for writing.
The word ‘retirement’ doesn’t describe well what currently happens when a person finishes work. It’s now rarely a time when people ‘retire’— as in withdraw—from life.
Age Pensioner ‘homeowners’ could lose their homeowner status if they’re away from their residence for a lengthy period. That could mean that their home becomes an asset—the same as an investment property.
Would you, should you retire interstate? In Australia, it seemed that in the 1970s there were many ‘southerners’ (particularly from Victoria) travelling up the Newell Highway in record numbers to live in Queensland. Now Tasmania may become the ‘Florida’ of Australia. The Apple Isle is likely to attract many who want to retire there.
Change is not always a welcome visitor. It can bring shock, pain, joy, or . . . No matter what stage of life we’re at, there will be change and the need to adapt our lives to the situations. So, what about retirement?